Over a third of first time buyers are unaware of the FirstBuy
scheme and the savings it can provide on buying a first home,
according to new research.*
The new figures also suggest that first timers are 45% more
likely to make their first move into home ownership if they are
aware of FirstBuy and take advantage of the offer.
Local housebuilder Morris is advising residents in Birmingham
about the scheme and making them aware that it is available on the
homes at its The Quarter development.
The FirstBuy scheme enables first time buyers to purchase a new
home with a mortgage for just 80 per cent of its market value. This
enables the buyer to move into home ownership with a smaller
deposit and lower monthly mortgage payments.
On average, homebuyers rent for seven years before they consider
buying a home yet 73 per cent of homebuyers are able to buy their
home quicker than they anticipated thanks to a housebuilder scheme
such as the one provided by Morris. **
Cindy Vials, regional sales director for Morris, said: "The new
research shows that FirstBuy is a great helping hand for people
looking to step onto the property ladder.
"It is important for house hunters to be aware of the options
available to them and we are strongly advising first time buyers in
Birmingham that FirstBuy is a great initiative to help them."
A range of one and two bedroom apartments are available at The
Quarter with prices starting from just £96,000**, under the
FirstBuy scheme.
To find out more about The Quarter, you can visit the sales
office (open daily) at Warstone Lane, Birmingham, B18 6NR.
Alternatively, call 0121 233 0927.
*Research by Right Move, in November 2011
** ** Morris first-time buyer survey
*** Price quoted is 80% of the marketed price on selected homes
under the FirstBuy scheme. Subject to terms and conditions. Price
is correct at time of going to press.